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Hi Steven,

Thanks for sharing about your plans, understand your objectives but it looks like your timeline will need some detailed planning.

From HDB OTP (Option to Purchase) issued to HDB 2nd appointment completion, it typically takes about 4 months. Cash proceeds will get on same day, but CPF proceeds will take about 2 weeks to go back to your CPF OA. It is also typically on 2nd appointment you need to handover the key to buyer, but there are some cases where a 3 month extension can be negotiated for.

May I know which EC are you referring to? Typically when its close to TOP, the balance units are not always the most ideal, hence will be good to have more info about the EC you are looking at and plan out the best timing to do the purchase and also sync the timeline with the sale.

May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

Email: Ivanng10@gmail.com
Contact: (+65) 97432395 
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(Client's Testimonials) Read More

Hi Steven,

I understand that you have the intentions to upgrade to an executive condominium.

However, before jumping the bandwagon, you need to understand the procedures and costs involved.

For instance, do you know that depending on the EC that you chose to purchase, you may be liable to pay a resale levy if your current HDB flat is under grant?

It is best if we can arrange an appointment for a meet-up, for me to explain each and every detail with you, before we proceed with anything. This is a big purchase, and you will need detailed planning with a seasoned professional to ensure a smooth transition.

Please contact me at my mobile 9748 6305  . I will be happy to assist in your upgrading.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More

Hi Steven,

May I ask do you have a temporary place to stay ie your parents place or relative's place. Or alternatively, are you open to rent a place to stay while waiting for the TOP of your EC?

1. Most of my HDB units are transacted under 2 months, your unit is located near Jurong Point so it should be pretty fast. Last week I just sold a HDB at Jurong East within 2 weeks at a record high price.

2. HDB process typically takes 3-3.5 months to complete. If you sell today, the completion would likely to be in Dec 2016. Upon completion, you will receive your sales proceed on the day of completion. CPF usually takes about 5-7 working days to return to your account.

3. Keys is passed to your buyer on completion day. If you have request for an extension of stay, then it will be at the end of the extension period.

4. Most ECs TOP before the estimated TOP date. However, you must understand that keys are distributed in phases and you may need to wait especially if your unit is on a higher floor.

I hope these clarifies. I have assisted many of my clients to upgrade from a HDB to an EC. Meticulous planning in terms of the timeline and finances is necessary for your case. Please feel free to contact me so that I can guide you through your upgrade journey!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
(W) www.nick-tan.com

Testimonial from Satisfied Clients (2015/2016)
“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
Mr & Mrs Wong (Property Seller)

“Nick has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations.
We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House)

“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefitted a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
Ms Chia (Buyer)

“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
Susana (Buyer)

“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”

Mr and Mrs Chan (Sold and Bought a property through Nick) Read More

Hi Steven,

I just sold off a unit @ Jurong West St 65 for the highest price in the area, and I'd be in a good position to advise you on the trends and pricings in the area; in terms of procedures I can give you a detailed timeline of the various points.

For the last point, you get it fast, but not immediately, but that's subject to discussion with developer.

Feel free to contact me at your convenience, and we can carry on from there.

Thanks and regards,
Teck Chuan, Ng
BBA (Finance), NUS
ERA Realty Network Pte Ltd
Mobile: 9137 4602  Read More

Dear Buyer,

Re: Today’s SG Professional Choice- SGAgent.com & SGRealtor.com

The fund will be transferred upon 2nd HDB Appt completed. What will be the EC, you targeting now :)

I am contactable at 92222389  or onassis@sgagent.com / sgrealtor.com
In all Areas of Singapore. Sale/Buy/Lease/Rent, Please call and/or drop me an email me. I’m always at your Services.

Onassis Gan | R021244C | Today’s SG Professional l SGAgent.com & SGRealtor.com

EXPERIENCED. PROACTIVE. SINCERITY. FEEDBACK
ACTA (Full); PDCE (Singapore); MSc BIT(Middlesex); BBA (South Australia)

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Singapore Line : (+65) 92222389 
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Email: onassis@sgagent.com / sgrealtor.com
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Committed at all times to help you make the best real estate decision of your life! Read More

Hi Steven, I have drafted a more detailed explanation and some recommendations on my blog:

http://www.hot-property.sg/guru-answers/money-not-enough-can-still-buy-ec/

I hope it would help you, and others that have similar queries.

Cheers,
Yian Tay Read More

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